8-K

                                UNITED STATES
                     SECURITIES AND EXCHANGE COMMISSION
                           WASHINGTON, D.C. 20549



                                  FORM 8-K



                           Current Report Pursuant
                        to Section 13 or 15(d) of the
                       Securities Exchange Act of 1934



     Date of Report (Date of earliest event reported)      May 10, 2004
                                                     ------------------


                             PARLEX CORPORATION
- ----------------------------------------------------------------------------
           (Exact Name of Registrant as Specified in Its Charter)


                                Massachusetts
- ----------------------------------------------------------------------------
               (State or Other Jurisdiction of Incorporation)


            0-12942                                    04-2464749
- --------------------------------           ---------------------------------
    (Commission File Number)               (IRS Employer Identification No.)


One Parlex Place, Methuen, Massachusetts                 01844
- ----------------------------------------------------------------------------
(Address of Principal Executive Offices)               (Zip Code)


                               (978) 685-4341
- ----------------------------------------------------------------------------
            (Registrant's Telephone Number, Including Area Code)





Item 7.  FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
         ------------------------------------------------------------------

      (c)   Exhibits.

            (99.1) Press Release of Parlex Corporation dated May 10, 2004.


Item 12.  RESULTS OF OPERATIONS AND FINANCIAL CONDITIONS.
          -----------------------------------------------

      On May 10, 2004, Parlex Corporation issued a press release setting
forth its results of operations and financial condition for its third fiscal
quarter ended March 28, 2004. A copy of the press release is attached hereto
as Exhibit 99.1 and is incorporated herein by reference.


                                 SIGNATURES

      Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                       PARLEX CORPORATION
                                       (Registrant)



                                       By: /s/ Jonathan R. Kosheff
                                           -----------------------
                                           Jonathan R. Kosheff
                                           Chief Financial Officer

Dated: May 10, 2004


  2

EX-99

[LOGO]


One Parlex Place, Methuen, MA 01844, (978)946-2564


news...


CONTACT:

Jon Kosheff
Chief Financial Officer
(978)946-2591
NASDAQ SYMBOL "PRLX"

                                                      FOR IMMEDIATE RELEASE

              Parlex Corporation Reports Third Quarter Results

Methuen Massachusetts, May 10, 2004 - Parlex Corporation (PRLX) today
reported revenues of $23.2 million in the quarter ended March 28, 2004
versus $19.4 million for the same period in the previous fiscal year, a 20%
increase. Loss from operations was $1.9 million versus a loss of $5.7
million for the same period of the preceding year. No tax benefit was
recorded associated with U.S. operating losses and a full valuation reserve
has been established for all U.S. deferred tax assets. As a result, the
Company reported a net loss for the quarter of $2.6 million or ($.40) per
share versus $5.9 million or ($0.94) per share for the same period last
year.

For the first nine months of fiscal year 2004, revenues were $66.4 million
versus $64.0 million in the corresponding fiscal 2003 period. The net
operating loss for the first three quarters was $4.7 million compared to a
$10.4 million loss in the prior year.

Bookings were approximately $27 million for the quarter including strength
in defense related electronics, computer peripherals and medical products.

Peter J. Murphy, Parlex president and CEO stated "Revenues for the period
increased year over year as a result of increased penetration in a variety
of markets partially offset by seasonality associated with our China
operation. We had particularly strong results in





our laminated cable and polymer thick film product lines. Sequential
revenue growth of 10% is expected in the current fiscal fourth quarter.

Income was negatively impacted by reduced shipments in Asia as a result of
the Chinese New Year shutdown and model changeover on several products by
our largest customer. Further, start-up production yields were below
expectations, but these issues have been subsequently resolved. Operating
results in China are expected to improve dramatically in the current
quarter.

During the quarter, the Company concluded negotiations with a major
supplier of connectors and flexible interconnects to the military
electronics market. Under this agreement, Parlex will supply flexible
circuits to this customer's assembly and finishing facility. Both Parlex
and the customer will retain original customer relationships. Initial
shipments are expected in June and when all product is transferred later in
the year, we expect well over $1 million per quarter of incremental
revenue, predominantly in our Methuen, Massachusetts facility.

We have made a number of critical changes in the management of our
multilayer operations. Based on operational improvements to date and
increased bookings, we believe multilayer will experience improved results
over the next several quarters.

In the third fiscal quarter, we reported significant progress in our
strategy to increase the value added component to our flexible circuit
products. Several new computer and medical products are expected to add $6
million of business over the next 12 months. We are also in the early
stages of production readiness for high volume automotive value added
products which are expected to significantly impact revenues in 2005."


About Parlex
- ------------

Parlex Corporation is a world leader in the design and manufacture of
flexible, interconnect products. Parlex produces custom flexible circuits
and laminated cables utilizing proprietary processes and patented
technologies, which are designed to satisfy





the unique requirements of a wide range of customers. Its manufacturing
facilities are located in the United States, China, Mexico and the United
Kingdom.


Forward Looking Statements
- --------------------------

This release contains "forward-looking statements" as defined under the
Federal Securities Laws. Actual results could differ materially from those
projected in the forward-looking statements as a result of certain risk
factors, including but not limited to: (i) further adverse changes in
general economic conditions; (ii) further delays or reductions in the
spending of the industry sectors we serve; (iii) the Company's ability to
effectively manage operating costs and increase operating efficiencies;
(iv) further declines in revenues; (v) insufficient, excess or obsolete
inventory; (vi) competitive factors, including but not limited to pricing
pressures, in the flexible interconnect markets; (vii) component quality
and availability; (viii) rapid technological and market change and the
transition to new products; (ix) the relative and varying rates of product
price and component cost declines; (x) the effects of war or acts of
terrorism, including the effect on the economy generally, on particular
industry segments, on transportation and communication systems and on the
Company's ability to manage logistics in such an environment, including
receipt of components and distribution of products; (xi) the ability to
attract and retain highly qualified employees; (xii) the uneven pattern of
quarterly sales; (xiii) fluctuating currency exchange rates; (xiv) risks
associated with strategic investments and acquisitions; (xv) the Company's
ability to execute on its plans; and (xvi) other one-time events and other
important factors disclosed previously and from time to time in its filings
with the U.S. Securities and Exchange Commission.